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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 659.00+1.0%Nov 21 4:00 PM EST
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To: Robert Rose who wrote (14102)5/16/1999 7:50:00 PM
From: donald sew  Read Replies (2) of 99985
 
Robert,

Yes I did say that before and I was wrong, and I have not problem with that. Hey, it wont be the last time I will be wrong.

I could be wrong, and as I did say that I need further confirmation and a break of the TRIANGLE to the downside would probably do it. If it breaks to the upside I will be wrong again when it comes to the DOT.X.

The internets will still be around and will be the new norm. I am not
arguing that, but my position is that sooner or huge P/E's will be history for the internets as a whole. Of course there will be new technology within the internets which will create mini-manias, something like IOM did. That will continue to happen.

My position is very simple and that the internet in general will no longer be new, it will become the norm with the companies faced with more and more competition worldwide. As competition rises, profit margins decline.

Competition will probably be even stronger than other manias since the internet is so global. The internet is a wonderful tool on a
global perspective, permitting other countries less fortunate than us
to compete. For example the auto industry involves huge capital investments and resources, where the internet only requires basicly
brains. The U.S. had advantages in the auto industry especially when it comes to raw material resources, but the U.S. will not have as much of an advantage with the internet.

Sooner or later the specific price mania of internet stocks will end, but I may be wrong again with the timing.

seeya
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